THE Singapore Exchange will soon do away with its minimum trading price rule for mainboard-listed companies, after finding “broad support from market participants” in last year’s public consultation, its regulatory arm said on Monday. Read more at The Business Times.
Companies that have a modified audit opinion looming over the latest financial statements, or whose auditors flagged going concern-related material uncertainties, also cannot leave the list.
On the flipside, companies now on the minimum trading price watch-list need not meet any exit criteria and apply for removal, as it will be shut down when the new framework takes effect. Watch-listed companies ran the risk of being delisted, and even faced challenges borrowing from banks or developing business relationships - even though the share prices of most of these counters were not found to have been manipulated, as SGX RegCo acknowledged.
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